July 9, 2019 - Hewitt Habgood Realty Group -
The North Texas Bullet Train project is currently underway with plans to shuttle passengers back and forth between Houston and Dallas faster, safer and more efficiently than current modes of transportation. Capable of operating at speeds in excess of 200 miles per hour, the North Texas Bullet Train will carry passengers between Dallas, Houston and the Brazos Valley in less than 90 minutes for rates that can compete with the cost of gas or a plane ticket by the year 2025.
The introduction of the Texas Bullet Train to The Cedars will accelerate and enhance the growth of this Dallas area, creating additional opportunities for economic growth in the southern edge of downtown including office, retail, entertainment, restaurants, hotels, apartments and condominiums. As Dallas’ population continues to soar, this project will also attract new residents to the area, encouraging higher density of The Cedars neighborhood and aiding the region’s highway congestion relief efforts.
Expected Economic Benefits
$43 million to $86 million – Estimated increase in property assessment values within a half-mile of the terminal (not including any new and related transit-oriented development in the area).
$3.8 million – Estimated amount station would generate in annual tax revenue for local property-taxing entities by 2023, and another estimated $12 million would come from the system’s support and maintenance facilities.
$10 million – Estimated local sales tax produced from the train’s ticket sales in Dallas County.
Read more: https://hewitthabgood.wordpress.com/2019/07/09/all-aboard-at-the-cedars/
The North Texas Bullet Train project is currently underway with plans to shuttle passengers back and forth between Houston and Dallas faster, safer and more efficiently than current modes of transportation. Capable of operating at speeds in excess of 200 miles per hour, the North Texas Bullet Train will carry passengers between Dallas, Houston and the Brazos Valley in less than 90 minutes for rates that can compete with the cost of gas or a plane ticket by the year 2025.
The introduction of the Texas Bullet Train to The Cedars will accelerate and enhance the growth of this Dallas area, creating additional opportunities for economic growth in the southern edge of downtown including office, retail, entertainment, restaurants, hotels, apartments and condominiums. As Dallas’ population continues to soar, this project will also attract new residents to the area, encouraging higher density of The Cedars neighborhood and aiding the region’s highway congestion relief efforts.
Expected Economic Benefits
$43 million to $86 million – Estimated increase in property assessment values within a half-mile of the terminal (not including any new and related transit-oriented development in the area).
$3.8 million – Estimated amount station would generate in annual tax revenue for local property-taxing entities by 2023, and another estimated $12 million would come from the system’s support and maintenance facilities.
$10 million – Estimated local sales tax produced from the train’s ticket sales in Dallas County.
Read more: https://hewitthabgood.wordpress.com/2019/07/09/all-aboard-at-the-cedars/